QUESTION 31 Which of the following statements regarding perpetual inventory systems is true? 1. They are used widely by retailers with computerized systems. 2. The inventory records are continuously updated with each purchase or sale transactio 3. Such systems typically use bar codes for updating the inventory records. 4. All of the above are true. QUESTION 32 Financial information is presented below: Operating expenses Sales returns and allowances Sales discounts Sales revenue Cost of goods sold Gross profit would be $49,000. $42,000. $45,000. $52,000 $ 28,000 7,000 3,000 150,000 98,000